Annual CPI up by 5% for 13 months straight
The Consumer Price Index (CPI) rose by 9.2% between October 2021 and October 2022, up from an annual increase of 8.2% in the 12 months to September 2022, new CSO data shows.
This is the thirteenth straight month where the annual increase for the CPI has been at least 5.0%.
The divisions with the largest increases in the year to October were:
- Housing,
- Water,
- Electricity,
- Gas and other fuels (+27.8%),
- Food and non-alcoholic beverages (+10.6%).
Education (-6.6%) and miscellaneous goods and services (-0.1%) were the only divisions to show a decrease when compared with October 2021.
Consumer prices rose by 1.6% in the month between September 2022 and October 2022.
Highest rate since 1984
Statistician Anthony Dawson said: “This is the highest rate of inflation since June 1984 when inflation was 9.7% and follows an increase of 8.2% in the year to September 2022.
"Prices have been rising on an annual basis since April 2021, with annual inflation of 5.0% or more recorded in each month since October 2021.”